Asian Paints Announces Final Dividend Of Rs 20
The board has fixed June 10 as the record date for determining the shareholders eligible.
Asian Paints Ltd. on Thursday announced dividend of Rs 20.55 per equity share of the face value of Rs 1 each for the fourth quarter of fiscal 2025. The proposal is subject to approval of shareholders during the annual general meeting, according to an exchange filing.
The total dividend for the financial year ended March 31, 2025, aggregates to Rs 24.80 per equity share of the face value of Rs 1 each, including the interim dividend of Rs 4.25 per equity share as approved by the board of directors at their meeting held on Nov. 9, 2024, which was paid thereafter.
The board has fixed June 10 as the record date for determining shareholders eligible for the final dividend for the financial year, as per the filing. The dividend, if approved by the shareholders will be paid on or after June 30, 2025.
Asian Paints Ltd.'s fourth-quarter profit fell, and margins contracted due to inflationary pressure and higher ad spends. India's largest paint-maker saw a 45% dip in consolidated net profit year-on-year to Rs 692.13 crore in the quarter-ended March, according to an exchange filing. The company also reported a one-time cost of Rs 183 crore.
Shares of Asian Paints were trading 1.15% lower at Rs 2,307.20 apiece, compared to a 0.65% decline at the benchmark NSE Nifty 50. The stock has fallen 19.04% in the last 12 months and risen 0.88% on a year-to-date basis. Total traded volume so far in the day stood at 1.15 times its 30-day average. The relative strength index was at 45.20.
Seven out of 38 analysts tracking the company have a 'buy' rating on the stock, 11 recommend a 'hold' and 20 suggest a 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 0.7%.
